Transferring shares from SAYE sharesave scheme to wife's ISA?

dhokes

What’s the actual process to transfer share certificates to a spouse? Can I just give them to a spouse for them to deposit them into their own S&S ISA? The share certificates will be from a SAYE/shareshave scheme - managed by Equiniti. The S&S ISA will be provided by IWeb.

Keep_pedalling

She won’t be able to deposit them, she will have to sell first so CGT may come in to play.

dhokes

IanManc said:

Keep_pedalling said:

She won’t be able to deposit them, she will have to sell first so CGT may come in to play.

Not according to the government, if you are putting them into your ISA.

This link explains how to deposit SAYE sharesave scheme shares into an ISA without selling them and without CGT liability.

https://www.gov.uk/tax-employee-share-schemes/transferring-your-shares-to-an-isa

Why don't you put them into your own ISA?

Stupidily, I've already deposited some cash into my cash ISA this tax year so I won't be able to transfer all the shares into my S&S ISA as I'd breach the £20k limit.

gavted

Hi all,
I just wanted to pick up on this thread and enquire if anyone has definite details  on the timelines involved.
My understanding is that a transfer of shares from a SAYE scheme to ISA has to be done within 90 of Exercising your option?
But a quick search says transfers to a spouse need to complete within 90 days of maturity.  It seems strange to set timeframes from different points in the process.

I was hoping to transfer shares to my wife, and then allow her to transfer them directly into the ISA (or combine those two steps if needed), but the maturity is in September (meaning we can exercise the option up until the end of February) which means we can get to the 2026/2027 tax year ISAs (this years are already full).  Using the maturity date creates an enormous headache.

Any ideas?

DRS1

gavted said:

Hi all,
I just wanted to pick up on this thread and enquire if anyone has definite details  on the timelines involved.
My understanding is that a transfer of shares from a SAYE scheme to ISA has to be done within 90 of Exercising your option?
But a quick search says transfers to a spouse need to complete within 90 days of maturity.  It seems strange to set timeframes from different points in the process.

I was hoping to transfer shares to my wife, and then allow her to transfer them directly into the ISA (or combine those two steps if needed), but the maturity is in September (meaning we can exercise the option up until the end of February) which means we can get to the 2026/2027 tax year ISAs (this years are already full).  Using the maturity date creates an enormous headache.

Any ideas?

I think the direct transfer to an ISA only works for YOUR ISA not your wife's.  If you give the shares to her and she wants to get them into her ISA she will need to sell them in a Bed and ISA transaction which may trigger CGT.

As a matter of interest where did you see the 90 days of maturity deadline for transfers to spouses?  Was it for an SAYE Scheme or a SIP (Share Incentive Plan)?

gavted

DRS1 said:

As a matter of interest where did you see the 90 days of maturity deadline for transfers to spouses?  Was it for an SAYE Scheme or a SIP (Share Incentive Plan)?

I think this is detailed in the SAYE paperwork - we are expecting the final paperwork for actions on maturity imminently, so I can update everyone then.